Palantir Technologies Inc. $PLTR Shares Sold by Parallel Advisors LLC

Key Points

• Parallel Advisors cut its Palantir stake by 1.8% in the third quarter, selling 3,739 shares; it still held 198,539 shares valued at about $37.1 million.
• Palantir beat Q3 earnings and revenue estimates, with revenue rising 95.9% year over year to $2.31 billion, and raised its 2026 outlook. U.S. commercial sales exceeded government sales for the first time.
• Investors face concerns about slowing contract bookings and Palantir’s premium valuation, which could make continued rapid growth harder to sustain despite strong results.

Parallel Advisors LLC lowered its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 1.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 198,539 shares of the company's stock after selling 3,739 shares during the quarter. Parallel Advisors LLC's holdings in Palantir Technologies were worth $37,137,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of PLTR. BlackRock Inc. increased its holdings in shares of Palantir Technologies by 0.4% in the 2nd quarter. BlackRock Inc. now owns 189,817,693 shares of the company's stock valued at $22,146,030,000 after acquiring an additional 757,322 shares during the period. State Street Corp raised its position in Palantir Technologies by 2.8% in the 2nd quarter. State Street Corp now owns 104,490,468 shares of the company's stock valued at $12,190,903,000 after purchasing an additional 2,863,874 shares during the last quarter. Bank of America Corp DE boosted its stake in Palantir Technologies by 28.7% during the 1st quarter. Bank of America Corp DE now owns 18,839,779 shares of the company's stock worth $2,755,883,000 after purchasing an additional 4,201,852 shares during the period. Amundi boosted its stake in Palantir Technologies by 2.5% during the 1st quarter. Amundi now owns 16,410,400 shares of the company's stock worth $2,400,513,000 after purchasing an additional 398,093 shares during the period. Finally, Jennison Associates LLC purchased a new position in Palantir Technologies during the 1st quarter worth $1,574,111,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies News Roundup

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Palantir beat Q3 earnings and revenue estimates, with revenue up 95.9% year over year to $2.31 billion, and raised its 2026 outlook. U.S. commercial sales also exceeded government sales for the first time, underscoring the potential to broaden its customer base. Palantir Q3 results and outlook
• Negative Sentiment: The main concern is slowing bookings: total contract value growth reportedly decelerated sharply, including in U.S. commercial business. Investors worry this could weaken the revenue pipeline and make it harder to sustain Palantir’s rapid growth. Commercial bookings slowdown
• Negative Sentiment: Palantir is also caught in a broader sell-off in AI-related software stocks. Its premium valuation may leave little room for any slowdown or disappointment, while concerns about government and defense spending add uncertainty. Contract growth warning

Analyst Upgrades and Downgrades

PLTR has been the topic of a number of recent research reports. Morgan Stanley lifted their price objective on shares of Palantir Technologies from $205.00 to $233.00 and gave the company a "buy" rating in a research note on Tuesday. Zacks Research downgraded shares of Palantir Technologies from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 6th. Northland Securities set a $200.00 price target on Palantir Technologies in a report on Tuesday, August 4th. The Goldman Sachs Group restated a "buy" rating and issued a $235.00 price target on shares of Palantir Technologies in a research report on Tuesday. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $235.00 price objective (up from $231.00) on shares of Palantir Technologies in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Palantir Technologies currently has an average rating of "Moderate Buy" and an average price target of $214.53.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 18,000 shares of the stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $201.15, for a total value of $3,620,700.00. Following the completion of the transaction, the insider directly owned 274,667 shares of the company's stock, valued at approximately $55,249,267.05. This trade represents a 6.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey Buckley sold 2,055 shares of Palantir Technologies stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $174.83, for a total transaction of $359,275.65. Following the sale, the insider owned 58,171 shares of the company's stock, valued at approximately $10,170,035.93. The trade was a 3.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 523,716 shares of company stock worth $92,212,379. Company insiders own 9.53% of the company's stock.

Palantir Technologies Stock Performance

Palantir Technologies stock traded up $5.39 during trading hours on Friday, reaching $160.38. 24,291,037 shares of the stock were exchanged, compared to its average volume of 24,029,898. The stock has a market cap of $385.40 billion, a P/E ratio of 112.15, a P/E/G ratio of 3.18 and a beta of 1.65. Palantir Technologies Inc. has a 52-week low of $106.37 and a 52-week high of $212.94. The firm's 50 day moving average is $185.88 and its 200 day moving average is $153.74.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, November 2nd. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.41 by $0.03. Palantir Technologies had a net margin of 50.34% and a return on equity of 32.87%. The company had revenue of $2.31 billion during the quarter, compared to analysts' expectations of $2.18 billion. During the same quarter last year, the business earned $0.21 EPS. The business's revenue was up 95.9% on a year-over-year basis. Equities research analysts expect that Palantir Technologies Inc. will post 1.31 EPS for the current fiscal year.

Palantir Technologies Company Profile

Palantir Technologies is a software company that develops platforms for integrating, analyzing and using data to support operational decisions. Its products are designed to help organizations work with large, complex datasets while managing access and security.

The company's platforms include Gotham, used primarily by government and intelligence customers; Foundry, designed for commercial and other organizations; Apollo, which supports the deployment and management of software; and Artificial Intelligence Platform (AIP), which helps organizations use artificial intelligence with their data and operations.

Founded in 2003, Palantir initially focused on software for government and intelligence work and later expanded its commercial business.

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